The Problem of the Jurisprudential Concept in Islamic Banking Products

Abstract

This study delves into the intricacies of the concept and its multifaceted levels to examine the intermingling of certain financial transaction contracts, such as Al-wadīʻah (Deposit), Mudaraba (Speculation), and the concept of “Naqd” (Currency). The study analyzes the diverse ways in which these terms are employed, leading to a multiplicity of interpretations and, consequently, a divergence of legal rulings and a plurality of Islamic juristic opinions based on the understanding of these concepts and their applications.